Citadel Advisors LLC bought a new position in shares of GlycoMimetics, Inc. (NASDAQ:GLYC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 22,311 shares of the biotechnology company’s stock, valued at approximately $249,000. Citadel Advisors LLC owned 0.09% of GlycoMimetics at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLYC. Wellington Management Group LLP increased its position in GlycoMimetics by 14.9% during the 1st quarter. Wellington Management Group LLP now owns 3,216,751 shares of the biotechnology company’s stock worth $17,467,000 after purchasing an additional 416,834 shares during the period. Prentiss Smith & Co. Inc. increased its position in GlycoMimetics by 42.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 10,000 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 3,000 shares during the period. Private Capital Advisors Inc. acquired a new position in GlycoMimetics during the 2nd quarter worth approximately $446,000. Russell Investments Group Ltd. increased its position in GlycoMimetics by 172.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 31,379 shares of the biotechnology company’s stock worth $350,000 after purchasing an additional 19,859 shares during the period. Finally, TD Asset Management Inc. acquired a new position in GlycoMimetics during the 2nd quarter worth approximately $362,000. Institutional investors own 92.63% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research cut GlycoMimetics from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. SunTrust Banks, Inc. set a $21.00 target price on GlycoMimetics and gave the stock a “buy” rating in a research report on Monday, August 7th. BidaskClub raised GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $17.00 price target (up previously from $13.00) on shares of GlycoMimetics in a research note on Friday, August 4th. Finally, ValuEngine raised GlycoMimetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.80.
In related news, SVP Helen M. Thackray sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.00, for a total transaction of $26,000.00. Following the transaction, the senior vice president now owns 150,615 shares in the company, valued at $1,957,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 43.80% of the stock is owned by company insiders.
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Shares of GlycoMimetics, Inc. (GLYC) opened at 12.53 on Friday. The stock’s market cap is $410.02 million. GlycoMimetics, Inc. has a 52 week low of $3.82 and a 52 week high of $16.94. The stock’s 50 day moving average price is $12.67 and its 200 day moving average price is $10.04.
GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.07. Equities research analysts anticipate that GlycoMimetics, Inc. will post ($1.22) EPS for the current fiscal year.
GlycoMimetics, Inc is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease.
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